Megawide Construction Corp. expects higher earnings in 2025 as it reported a consolidated net income of ₱436 million in the first six months of the year—slightly lower than the ₱438 million earned in the same period last year but amounting to 81 percent of full-year 2024 net income.

In a disclosure to the Philippine Stock Exchange (PSE), the firm said its consolidated revenues declined 25 percent to ₱8.6 billion as projects under construction enter the tail-end of the life cycle.

“Based on our performance in the first six months of the year, we are on track to outpace our net income from the previous year,” Megawide Chairman and Chief Executive Officer (CEO) Edgar Saavedra said.

He added that, “This is also partly driven by the increasing contribution from our real estate business, which is steadily emerging as a new growth driver.

“Other business segments are expected to complement our consolidated overall performance as we replenish our order book for engineering, procurement, and construction (EPC) and precast and construction solutions (PCS) from both external and internal clients.”

In terms of segment, construction operations contributed ₱7.3 billion and accounted for 85 percent of total consolidated revenues.

The performance was traced to the winding down phase for a number of ongoing projects, which generally churn in lower revenues based on the S-curve but deliver higher margins.

Meanwhile, revenue from real estate operations amounted to ₱1.1 billion—more than three times from the comparative period in 2024—coming from ongoing projects.

With healthy sales at ₱1.7 billion for the first half—64-percent higher year-on-year—this brought unbooked revenues to a healthy level of ₱8.8 billion.

Landport operations, meanwhile, delivered ₱217 million in revenues, six-percent more than the previous year, and contributed closely three percent to the total consolidated revenues.

The segment benefited from the steady influx of passengers in the terminal, which averaged 164.8 thousand by end-June and translated to a higher spend per passenger at ₱34.7. Commercial occupancy remained healthy at 98 percent while signed contracts for office spaces were at 47 percent.

As of end June 2025, Megawide’s construction order book ended at ₱37.7 billion, with new contracts amounting to ₱2 billion from towers two and three of PH1 World Developers Inc.’s (PH1) Modan Lofts Ortigas Hills and Citicore’s Lucanin solar power plant, together with battery energy storage systems (BESS) for Bolbok and Lumbangan solar plants.

The company said it remains committed to venture into more scalable and socially responsive business platforms, such as the government’s flagship Pambansang Pabahay Para sa Pilipino (4PH) program, to leverage on its engineering and construction DNA and PCS advantage.

“Our foray into the 4PH is expected to help address the six million housing backlog and further harness synergies within the group, by boosting the order book for both EPC and PCS from the internal front.

“Specifically, we broke ground for four new locations under the 4PH—two each in Bacoor and Dasmariñas. Together with our maiden project Avesta in Imus, PH1 is expected to deliver approximately 7,000 housing units from these projects in the next two to three years, in Cavite alone,” Saavedra said.

Megawide also recently broke ground for Caticlan Airport terminal last July, which it hopes to serve as springboard for other transport infrastructure projects in the future.

Megawide is currently bidding for high-value projects estimated at ₱20 billion, which will shore up its year-end order book to ₱50 billion.